TX-PACE Supports the Transformation of a Historic Downtown Dallas Landmark

Historic buildings deserve a future—not just a past.

The transformation of 501 Elm Street in downtown Dallas demonstrates how innovative financing can help make complex adaptive reuse projects a reality.

Originally constructed in 1903 and expanded in 1930, this National Register landmark is being redeveloped into a vibrant mixed-use destination featuring approximately 120 multifamily residences, retail space, and modern energy and water efficiency improvements. TX-PACE is providing approximately $16 million in financing for eligible efficiency improvements, helping improve long-term building performance while preserving the building's historic character.

Projects like 501 Elm also illustrate how TX-PACE works alongside other financing tools, including Historic Tax Credits, to help close financing gaps and support the successful revitalization of historic properties.

We're proud to partner with 3L Real Estate, Nuveen Green Capital, and the City of Dallas on a project that honors the past while investing in the future of downtown Dallas.

Read more here: https://www.texaspaceauthority.org/tx-pace-supports-the-transformation-of-a-historic-downtown-dallas-landmark/

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